Section 1 of BRA : Section 1: Short Title, Extent And Commencement

Explanation using Example

Imagine a scenario where a new bank called "SafeBank" is being established in India. The founders of SafeBank need to ensure that their operations comply with Indian laws. They refer to the Banking Regulation Act, 1949, which is the law governing banking practices in India.

Since this Act extends to the whole of India, as stated in Section 1(2), SafeBank must follow the regulations outlined in this Act in all its branches across the country.

The Act was put into effect on a date specified by the Central Government, as mentioned in Section 1(3). SafeBank would have found this date in the Official Gazette and ensured that their banking practices were in line with the Act from that date onwards.